12/05/2019 Live Update

[alphahorn]

3108 is well defended again

[Al_Dente]

Internals are weak; not even 1-to-1.
1/trin went bull at circa 11:30 and now flipped to bear-spy
options traders are “wait and see”
5min

[Vaamsy]

Descending triangle might be in play. One more touch of 3108 support shouldn't hold it. And down we go to the low of the day.

[brokebybernacke2]

Descending triangle might be in play. One more touch of 3108 support shouldn't hold it. And down we go to the low of the day.

move today might take some by surprise.

[alphahorn]

going to lunch, leaving trade on have stops on both sides. good luck all. my best guess is this is a wave b triangle and we are above to put in the last leg, leg e, then we should fall. If I'm correct

[Vaamsy]

Descending triangle might be in play. One more touch of 3108 support shouldn't hold it. And down we go to the low of the day.

move today might take some by surprise.

Absolutely! The IHS on the hourly and H&S on the 4hr and daily confuse a bit. Should be ready to jump ships anytime.

[te_fern]

SPX is still in this triangle. Getting closer to the end of it, so it will resolve.......

[Vaamsy]

going to lunch, leaving trade on have stops on both sides. good luck all. my best guess is this is a wave b triangle and we are above to put in the last leg, leg e, then we should fall. If I'm correct

What could be the max for this last leg? Overnight high?

[Al_Dente]

... The IHS on the hourly and H&S on the 4hr and daily confuse a bit. Should be ready to jump ships anytime.

thanks for that boss
hmmmm, I've got an H&S on the hourly, and maybe an inv-H&S
Both potential, neither confirmed yet

[Heck]

Red prices and VIX = Market confusion

SPY Target + 34 %
From 310.58 to 415
+ 1.76 % Dividend Yield

[JFR]

Late once again. ES daily. Riding the E Train, the EMA 20.

[JFR]

ES five minute. A big push down at the opening. And then stuck in a range. Scalp country.

[Cobra]

breakout likely, possible mm.

[BullBear52x]

Bears are too weak. bullish above this pivot.

[Trades with cats]

White House worried about the third touch at 3108. They wheeled Treasury Secretary out to bla bla bla trade for an algo trigger. All it did was get us to the most favored price of 3114 so we are at neutral. But energy was spent trying higher overnight and that was rejected. Just as lower was rejected. Thinking market wants to be in it's happy place gathering courage to face the jobs report.

[BullBear52x]

Zoomed in,Bullish eh, well, it's my sell day today so I will sell my next sell setup RSI >70

[JFR]

ES five minutes. Moving up out of the range.

[BullBear52x]

Excuse to sell, we are still under the dark side of the chart with TRIN on the bears side.

[BullBear52x]

I am back on a south bound train.

[Vaamsy]

3117.5 is the next stop. If that clears back to overnight highs. Hopefully it turns at 3117.5